Management Board Benefit Systems S.A. with its registered office in Warsaw ("Issuer") informs that today the Issuer received a loan agreement dated 11 October 2018 ("Loan Agreement") concluded between the Issuer ("Lender") and a company under the name Fit Invest sp. z oo with its registered office in Warsaw ("Borrower"), being an entity 100% subsidiary to the Issuer, for the amount of PLN 9.7 million, as a result of which the total value of loan agreements concluded between the Lender and the Borrower in the last 12 months has reached the value of 51, PLN 6 million.
The loan amount can be paid in tranches, according to the Borrower's needs. The interest rate on the loan is variable and has been determined on market terms. The loan amount is to be repaid by 31 May 2023. The loan agreement does not contain any conditions precedent or dissolution, nor does it provide for contractual penalties. The other terms of the Loan Agreement do not differ from those commonly used in this type of agreements.
The loan is to enable the Borrower to finance current operations, including those related to investment activities in the fitness area.
Source: company website, investor relations, current and periodic reports.